CBS.MarketWatch.com

NEW YORK (CBS.MW) -- The Securities and Exchange Commission has begun an informal investigation into Sunbeam's (SOC)
SOC, +16.67%
accounting, The Wall Street Journal reported Monday. Officials at the SEC and the company would not comment on the record. Although the scope of the investigation wasn't clear, the Journal noted that several reports critical of the company's accounting practices have surfaced. The company fired CEO Al Dunlap this month amid concerns over his leadership and the company's financial position. Following Dunlap's dismissal, the company acknowledged that it may be heading for a second-quarter loss. (The Wall Street Journal)

IRS overhaul could move through House soon

WASHINGTON (CBS.MW) -- Lawmakers at Capitol Hill have just about put the finishing touches on a popular bill to overhaul the Internal Revenue Service, The Wall Street Journal reported Monday. The bill, which could sail through the House later this week, would give IRS Commissioner Charles Rossotti greater freedom to manage the tax-collecting agency and would rein in the IRS in a number of areas. The bill would shift the burden of proof on income-tax matters to the IRS and would make it harder for the IRS to seize houses or go after so-called innocent spouses. (The Wall Street Journal)

Online privacy guidelines to be released

NEW YORK (CBS.MW) -- Two private groups will unveil new guidelines for protecting consumer privacy online, The Wall Street Journal reported Monday. The Council of Better Business Bureaus and the Alliance for Privacy, a group of about 50 companies and trade groups -- (including Time Warner (TWX)
TWX, +0.14%
, Walt Disney Co. (DIS)
DIS, +1.25%
, America Online (AOL)
aol
and IBM (IBM)
IBM, +0.37%
-- will announce rules for collecting and sharing information from internet surfers. The Federal Trade Commission has encouraged the private sector to write the rules, but regulators are getting impatient with the results so far, the Journal said. (The Wall Street Journal)

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